Pfizer to Raise Billion in Debt Offering to Fund Seagen Acquisition, SEC Filing Shows
Pfizer plans to raise $31 billion through a debt offering to fund its proposed acquisition of cancer drugmaker Seagen, according to a filing with t...
Pfizer plans to raise $31 billion through a debt offering to fund its proposed acquisition of cancer drugmaker Seagen, according to a filing with the Securities and Exchange Commission. The biotech company's debt offering is expected to close on May 19, the SEC filing said. The offering comes as corporations like Apple, T-Mobile and Merck rush to tap the U.S. bond market ahead of a potential spike in borrowing costs by the debt ceiling standoff. Pfizer, which is based in New York, expects to complete the $43 billion Seagen buyout later this year or in early 2024.